Taking out a loan as a student is not always easy. Because this group of people can often not be certified because of the lack of income sufficient creditworthiness. However, the costs of studying, living expenses, etc. are there, and many students fail to manage them. Borrowing is therefore the only way out of how you can still finish your studies.
Special features of student loans
The payday loan for students , which can also be found under the name student loan, is a special form on the credit market. On the one hand, the loan can be granted without your own income, because the credit institutions recognize that the degree is sufficient for a high income. The second peculiarity is that the loan only has to be repaid at the end of your studies. The student therefore does not have to bear any further costs during the study period.
Some banks even plan to start the repayment phase only a few months after the end of your studies once a job has been found and repayment is possible. Everyone should be aware that interest will still accrue in time. And since the time until the loan is repaid is quite long, interest rates are not the lowest either.
Another special feature that serves as security for the banks is that the student loan is not paid out in one amount. Many banks have started to split the loan amount in part with monthly payments to the students. In this way, the livelihood can be secured, but the money cannot be spent unnecessarily on others. If you want to finance something else with the payday loan for students, it will be difficult for you to find a provider where the loan amount can be paid out in one amount. Alternatively, all of the usual providers of instant loans can help out. Students without a Schufa can get a loan quickly and easily here.
Requirements for student payday loans
If you want to take out a payday loan for students, you have to meet a few conditions:
- the end of the course must be close
- there must be certainty that the course will also be “passed”,
- Students who are too old are excluded, since entry into professional life and thus a secure income is not certain.
- no negative entry in the Schufa,
- no more loans.
The loan will only be paid out if the student can meet all the requirements of the banks.
Comparison calculator for student loans
The comparison calculator should be used so that the student can recognize the providers on the market who have a payday loan for students on offer. Information on costs and conditions is also provided. Borrowing can be simplified and high costs can be saved.